Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 04, 2012 |
referred to elections |
Mar 02, 2011 |
referred to elections |
Senate Bill S3731
2011-2012 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Elections Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D) Senate District
(D, WF) 28th Senate District
(D, WF) 29th Senate District
2011-S3731 (ACTIVE) - Details
2011-S3731 (ACTIVE) - Summary
Treats parent corporations and their 50% or more owned subsidiaries as one entity for purposes of the applicability of the $5,000 campaign contribution limit; applies additional disclosure requirements to certain corporations including the names and addresses of parent corporations and individuals who own or control shares of either the parent or subsidiary corporation.
2011-S3731 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3731 TITLE OF BILL: An act to amend the election law, in relation to the treatment of corporate subsidiaries for purposes of the application of contribution limits and reporting requirements PURPOSE OR GENERAL IDEA OF BILL: To include corporations owned or controlled by a parent corporation or the individuals who own or control the parent corporation within the same $5,000 limit on the amount of the parent corporation's contributions to political party committees and political candidates. To require disclosure of the names and addresses of parent corporations and individuals who own or control related corporations. SUMMARY OF PROVISIONS: The bill amends section 14-116 of the election law to add a new subdivision defining "corporation" to include its subsidiaries and corporations owned and controlled by the same individual or group of individuals that own or control the parent corporation. It also amends section 14-102 to require campaign reports to include the names and addresses of parent corporations and individuals who own or control shares of either the parent or subsidiary corporation. EXISTING LAW:
2011-S3731 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3731 2011-2012 Regular Sessions I N S E N A T E March 2, 2011 ___________ Introduced by Sens. OPPENHEIMER, DIAZ, KRUEGER, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Elections AN ACT to amend the election law, in relation to the treatment of corpo- rate subsidiaries for purposes of the application of contribution limits and reporting requirements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 14-102 of the election law is amended by adding a new subdivision 6 to read as follows: 6. AS TO RECEIPTS FROM CORPORATIONS, THE STATEMENTS SHALL INCLUDE THE NAME AND ADDRESS OF (A) EACH CORPORATION FROM WHICH IT HAS RECEIVED ANYTHING OF VALUE, (B) THE NAME OF EACH CORPORATION THAT OWNS OR CONTROLS FIFTY PERCENT OR MORE OF THE SHARES OF THAT CORPORATION, (C) THE NAMES AND ADDRESSES OF EACH INDIVIDUAL WHO IS PART OF A GROUP OF INDIVIDUALS THAT OWNS OR CONTROLS FIFTY PERCENT OR MORE OF THE SHARES OF EITHER CORPORATION. S 2. Section 14-116 of the election law is amended by adding a new subdivision 3 to read as follows: 3. FOR PURPOSES OF THIS SECTION, THE TERM "CORPORATION" MEANS A PARENT CORPORATION AND ALL OF ITS SUBSIDIARIES OF WHICH THE PARENT CORPORATION OWNS FIFTY PERCENT OR MORE OF THE OUTSTANDING SHARES AND ANY OTHER CORPORATION OF WHICH A COMBINATION OF INDIVIDUALS THAT OWNS OR CONTROLS FIFTY PERCENT OR MORE OF THE OUTSTANDING SHARES OF THE PARENT CORPO- RATION ALSO OWNS OR CONTROLS FIFTY PERCENT OR MORE OF THE OUTSTANDING SHARES. S 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05928-01-1
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